USD/CAD broke pivotal resistance level 1.3120
- USD/CAD broke pivotal resistance level 1.3120
- Next buy target - 1.3300
USD/CAD continues to rise after the earlier breakout of the pivotal resistance level 1.3120 (which has been steadily reversing the price from the end of May, as can be seen from the daily USD/CAD chart below). The breakout of the resistance level 1.3120 is likely to accelerate the active (c)-wave of the minor ABC correction 2 from the start of June.
USD/CAD is expected to rise further to the next buy target at the resistance level 1.3300 (top of the previous minor correction 4 from March and the target price calculated for the completion of the active ABC correction 2).